# Airbnb (ABNB) Q3 2026 earnings

Results filed 2026-11-05 for the quarter ended 2026-09-30. Source page: https://earnings.opennash.com/companies/abnb/2026-q3/
Press release and exhibits: https://www.sec.gov/Archives/edgar/data/1559720/000119312526449727/0001193125-26-449727-index.htm
> Summaries and transcripts are machine-generated and can contain errors.

## In brief

Airbnb Q3 2026 revenue grew 19% year-over-year to $4.9 billion, with net income of $1.9 billion, Adjusted EBITDA of $2.5 billion and GBV of $27.7 billion.

Airbnb posted its fastest revenue growth in more than three years. Revenue rose 19% to $4.9 billion, and Gross Booking Value rose 21% to $27.7 billion. Nights and Seats Booked grew 16%, with double-digit growth in every region. Net income was $1.9 billion and Adjusted EBITDA margin reached 52%. Airbnb also announced a new $12 billion share repurchase authorization.
Management raised its full-year 2026 outlook. It now expects high-teens revenue growth and an Adjusted EBITDA margin of about 36%. For Q4 it guides to revenue of $3.22 billion to $3.28 billion. The main tensions are that the company is closely monitoring developments in EMEA, that Reserve Now, Pay Later is pulling down the implied take rate (17.6%) and slowing free cash flow, and that Q4 margin is expected to dip slightly.

## Key numbers

| Metric | Value | Change | Basis |
| --- | --- | --- | --- |
| Revenue | $4.9 billion | up 19% from a year ago | GAAP |
| Net income | $1.9 billion | up 38% from a year ago | GAAP |
| Diluted EPS | $3.16 | up from $2.21 a year ago | GAAP |
| Net cash provided by operating activities | $1.5 billion | increased year-over-year | GAAP |
| Free cash flow | $1.4 billion | increased year-over-year | non-GAAP |
| Adjusted EBITDA | $2.5 billion | up 22% from a year ago | non-GAAP |
| Adjusted EBITDA Margin | 52% | up from 50% in Q3 2025 | non-GAAP |

## Segments and operating metrics

| Name | Value | Change |
| --- | --- | --- |
| Nights and Seats Booked | 155.0M | up 16% from a year ago |
| Gross Booking Value | $27.7B | up 21% from a year ago |
| Average daily rate (ADR) | $179 | up 4% from a year ago |
| Implied take rate | 17.6% | down from Q3 2025 |
| App share of nights booked | 66% | up from 62% a year ago |
| First-time booker growth | 13% | highest since early 2022 |

## Outlook

| Metric | Period | Outlook |
| --- | --- | --- |
| Revenue | Q4 2026 | $3.22 billion to $3.28 billion |
| Revenue growth year over year | Q4 2026 | 16% to 18% |
| Adjusted EBITDA Margin | full-year 2026 | approximately 36% |

## Key takeaways

1. **Growth accelerated broadly across regions and markets** Revenue grew 19%, GBV grew 21% and Nights and Seats Booked grew 16%. Every region delivered double-digit nights growth, and North America grew at its fastest pace in four years.
2. **Full-year outlook raised on revenue and margin** Airbnb now expects high-teens revenue growth for 2026 and an Adjusted EBITDA Margin of approximately 36%. Q4 revenue is guided to $3.22 billion to $3.28 billion.
3. **Reserve Now, Pay Later lowers take rate and cash** The implied take rate of 17.6% fell as guests book further ahead. Unearned fees dropped to $1.5 billion, and free cash flow margin was 29% versus 33% a year earlier.
4. **AI is cutting support costs** About 40% of customer support issues were resolved without a human agent, up from a third in Q2 2026. Customer support cost per booking declined more than 17% year-over-year.
5. **New $12 billion buyback authorization announced** Airbnb repurchased $0.7 billion of Class A stock in Q3 and authorized up to an additional $12 billion. It also plans to roll out its own AI agent in the first half of 2027.

## Questions

**How did Airbnb perform in Q3 2026?** Revenue grew 19% year-over-year to $4.9 billion, GBV grew 21% to $27.7 billion, and net income was $1.9 billion. Adjusted EBITDA was $2.5 billion at a 52% margin.
**What is Airbnb's guidance for Q4 2026?** Airbnb expects revenue of $3.22 billion to $3.28 billion, up 16% to 18% year-over-year, including an approximate two percentage point FX tailwind. It expects mid-teens GBV growth and Adjusted EBITDA Margin down slightly versus Q4 2025.
**Did Airbnb change its full-year 2026 outlook?** Yes, it raised both revenue growth and margin. It now expects high-teens revenue growth and an Adjusted EBITDA Margin of approximately 36%.
**Why did Airbnb's take rate and free cash flow margin decline?** The implied take rate of 17.6% fell mainly because Reserve Now, Pay Later has guests booking further ahead, which raises GBV before revenue is recognized. Free cash flow of $1.4 billion (29% margin) was also held back by working capital outflows and a July 2026 property purchase in New York.
**What is Airbnb doing with its cash?** It repurchased $0.7 billion of Class A stock in Q3 and announced a new authorization of up to an additional $12 billion. It ended the quarter with $12.6 billion of cash, short-term investments and restricted cash.

## Slides and investor documents

- [Shareholder Letter](https://s26.q4cdn.com/656283129/files/content_files/Airbnb-Q3-2026-Shareholder-Letter.pdf) (Shareholder letter)
- [Earnings Transcript](https://s26.q4cdn.com/656283129/files/content_files/Airbnb-Q3-2026-Earnings-Call-Transcript.pdf) (Company's official transcript)
- [Earnings Webcast](https://events.q4inc.com/attendee/385199759) (Webcast replay)
- [SEC Filings](https://d18rn0p25nwr6d.cloudfront.net/CIK-0001559720/9a2b2620-76b8-4946-92b4-3e685fc918e6.pdf) (Document)